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Apr 13, 2017
04/17
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KGO
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deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit.
deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit. deficit....
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108
Apr 13, 2011
04/11
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MSNBC
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but doing nothing on the deficit is just not an option. our debt has grown so large that we could do real damage to the economy if we don't begin a process now to get our fiscal house in order. finally, there are those who believe we shouldn't make any reforms to medicare, medicaid, or social security out of fear that any talk of change to these programs will immediately usher in the sort of steps that the house republicans have proposed. i understand those fears. but i guarantee that if we don't make any changes at all, we won't be able to keep our commitment to a retiring generation that will live longer and will face higher health care costs than those who came before. indeed, to those in my own party, i say that if we truly believe in a progressive vision of our society, we have an obligation to prove that we can afford our commitments. if we believe the government can make a difference in people's lives, we have the obligation to prove that it works by making government smarter and leaner and more effective. of course,ç there are th
but doing nothing on the deficit is just not an option. our debt has grown so large that we could do real damage to the economy if we don't begin a process now to get our fiscal house in order. finally, there are those who believe we shouldn't make any reforms to medicare, medicaid, or social security out of fear that any talk of change to these programs will immediately usher in the sort of steps that the house republicans have proposed. i understand those fears. but i guarantee that if we...
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Jun 14, 2012
06/12
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MSNBCW
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eye 200
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look, we have no choice whether we pay down our deficit. but we do have a choice about how we pay down our deficit. we do have a choice about what we can do without and where our priorities lie. i don't believe that giving someone like me a $250,000 tax cut is more valuable to our future than hiring transformative teachers or provide financial aid to the children of a middle class family. i don't believe that tax cut is more likely to create jobs than providing loans to new entrepreneurs or tax credits to small business owners who hire veterans. i don't believe it's more likely to spur economic growth than investments in clean energy technology and medical research or in new roads and bridges and runways. i don't believe that giving someone like mr. romney another huge tax cut is worth ending the guarantee of basic security we've always provided the elderly and the sick and those who are actively looking for work. those things don't make our economy weak. what makes our economy weak is when fewer and fewer people can afford to buy the goods
look, we have no choice whether we pay down our deficit. but we do have a choice about how we pay down our deficit. we do have a choice about what we can do without and where our priorities lie. i don't believe that giving someone like me a $250,000 tax cut is more valuable to our future than hiring transformative teachers or provide financial aid to the children of a middle class family. i don't believe that tax cut is more likely to create jobs than providing loans to new entrepreneurs or tax...
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target the trouble is the budget deficit is two point four percent for each of the next three years that is likely to actually push up debt to g.d.p. the reason that the finance minister and others are saying it's ok because there are groups assumptions italy is much higher than i think reality will be so all depends on how well it's lee does briefly italy is the second most indebted nation in the eurozone how much of a risk does it pose to the overall health of the currency bloc countries like germany for example. i think it's a huge risk because the financial into linkages are incredible are vast they're bigger than they were the financial crisis and eurozone crisis the target two mechanism means that all your own countries are intertwined and therefore what matters to italy doesn't matter for germany it doesn't matter for the rest of the euro zone and i think any move any further talk about leaving the euro zone i think would lead to financial disruption potentially risk the growth dynamic of eurozone which is still pretty good so important to watch what is said as much as what i
target the trouble is the budget deficit is two point four percent for each of the next three years that is likely to actually push up debt to g.d.p. the reason that the finance minister and others are saying it's ok because there are groups assumptions italy is much higher than i think reality will be so all depends on how well it's lee does briefly italy is the second most indebted nation in the eurozone how much of a risk does it pose to the overall health of the currency bloc countries like...
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Oct 17, 2013
10/13
by
ALJAZAM
tv
eye 113
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our deficits are half of what they were a few years ago. the debt problems now we have are long-term. and we can address them without short changing our kids, or short changing our grandkids, or weakening the security that current generations have earned from their hard work. so that's number one. number two, we should finish fixing the job of our -- let me say that again -- number two, we should finish the job of fixing our broken immigration system. there's already a broad coalition across america that's behind this effort of comprehensive immigration reform. from business leaders to faith leaders to law enforcement. in fact, the senate has already passed a bill with strong bipartisan support that would make the biggest commitment to border security in our history, would modernize our legal immigration system, make sure that everybody plays by the same rules, makes sure that the folks who came here illegally have to pay a fine and back taxes and meet their responsibilities, that bill has already passed the senate. and economists estimate
our deficits are half of what they were a few years ago. the debt problems now we have are long-term. and we can address them without short changing our kids, or short changing our grandkids, or weakening the security that current generations have earned from their hard work. so that's number one. number two, we should finish fixing the job of our -- let me say that again -- number two, we should finish the job of fixing our broken immigration system. there's already a broad coalition across...
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247
Oct 19, 2012
10/12
by
TBN
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eye 247
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deficit. that's the word. >>> right now, the u.s. government is running a deficit, has been for years. it's a topic that comes up a lot in politics and, as you might expect, it's come up a lot in this year's presidential campaign. in fact, during this week's debate between barack obama and mitt romney, the word "deficit" came up nearly 20 times. both candidates have plans to deal with it. >> both candidates have made it a cornerstone of this election to talk about the deficit, the difference between how many money our government is spending and how much it is taking in in taxes. this is the deficit right now, $1 is trillion, $90 billion. if we all wanted to pay it off, every man, woman and child in the country has to pay $3,500. yet each candidate says i can reduce the deficit. they all say we're going to have to contain the spending of the government. control it. we're going to have to rewrite the tax code and we have to get the economy moving again because that's going to produce money and revenue .really solve the problem. but bey
deficit. that's the word. >>> right now, the u.s. government is running a deficit, has been for years. it's a topic that comes up a lot in politics and, as you might expect, it's come up a lot in this year's presidential campaign. in fact, during this week's debate between barack obama and mitt romney, the word "deficit" came up nearly 20 times. both candidates have plans to deal with it. >> both candidates have made it a cornerstone of this election to talk about the...
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Jan 6, 2011
01/11
by
CSPAN
tv
eye 107
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so tax cuts passed by the house can increase the deficit. also in the republican rule, increases to mandatory spending must be paid for by reducing spending somewhere else. therefore, if the house wanted to extend the child tax credit to minimum wage families, then the republican new rules would not allow this to be paid for by closing a corporate loophole. instead, they would have to be paid for by taking away from some other group of people. the speaker pro tempore: the gentleman's time has expired. mr. ellison: this is wrong and it speaks to the heart of what divides us. i'm glad we're doing this today. the speaker pro tempore: the gentleman from california. mr. dreier: madam speaker, i will continue to reserve the balance of my time. the speaker pro tempore: the gentleman from california reserves the balance of his time. the gentlewoman from new york. ms. slaughter: let me yield one minute to the gentleman from new jersey, mr. pallone. the speaker pro tempore: the gentleman from new jersey is recognized for one minute. mr. pallone: thank
so tax cuts passed by the house can increase the deficit. also in the republican rule, increases to mandatory spending must be paid for by reducing spending somewhere else. therefore, if the house wanted to extend the child tax credit to minimum wage families, then the republican new rules would not allow this to be paid for by closing a corporate loophole. instead, they would have to be paid for by taking away from some other group of people. the speaker pro tempore: the gentleman's time has...
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Mar 8, 2017
03/17
by
BBCNEWS
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eye 29
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year the deficit for 2016/17 was forecast to be 55.5 billion pounds. but then in the autumn the obr said actually it was probably going to more like 68 billion pounds — but today — because of those stronger growth figures — that deficit is expected to come down — quite substantially. so we will keep an eye out for that. look along the chart — you can see it is following the government's aim to reduce the deficit year on year until they get to a position where they actually take in more money in taxes and investments than they spend on running the country. these predictions suggest that by 2021 the deficit will stand atjust over £20 billion — could that change in today's fresh figures? we'll let you know. once the deficit is down, phillip hammond can then start to work on bringing down the debt. that's the amount of money the government owes in total — the chancellor said in the autumn that debt as a share of gdp should be falling by 2021. well, the obr do expect that target to be met, but in cash terms — debt is predicted to continue r
year the deficit for 2016/17 was forecast to be 55.5 billion pounds. but then in the autumn the obr said actually it was probably going to more like 68 billion pounds — but today — because of those stronger growth figures — that deficit is expected to come down — quite substantially. so we will keep an eye out for that. look along the chart — you can see it is following the government's aim to reduce the deficit year on year until they get to a position where they actually take in...
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public deficit and that criticism from you was young wrong to criticize that because it is within the current limits that increase in the italian deputy prime minister. accuses you of pushing out rooms cost of borrowing by likening italy to greece that he's right in this particular spot. well i think there's no doubt that the deficit surprised the markets and it surprised investors generally given what the finance minister have been speaking about in the weeks before when you have been speaking about potentially a one point six percent deficit you saw spreads come in the financial markets were rewarding what was deemed to be a conservative and reasonable budget deficit target the trouble is that the budget deficit is two point four percent each of the next three years that is likely to actually push up debt to g.d.p. the reason that the finance minister and others are saying it's ok because there are groups assumptions italy is much higher than i think reality will be it all depends on how well it's lee does briefly it's really is the second most indebted nation in the euro zone how m
public deficit and that criticism from you was young wrong to criticize that because it is within the current limits that increase in the italian deputy prime minister. accuses you of pushing out rooms cost of borrowing by likening italy to greece that he's right in this particular spot. well i think there's no doubt that the deficit surprised the markets and it surprised investors generally given what the finance minister have been speaking about in the weeks before when you have been speaking...
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and china what would that do to the deficit potentially. i disappointed stephen according to what we know so far be genies focusing most of the attention in promises to increase the buy in of more u.s. goods and services which reduce the trade gap if they materialize it but these increases will not be immediate and probably will to be gradual over the years which also generate a lot of other questions also some critics say that the negotiations are focusing too much on reducing the trade gap and not so much in tackling the structural changes in the chinese economy but deal or no deal what if it's true is that the us is an economy mainly based on consumption and services and has repeatedly run larger trade deficits since the eighty's and perhaps even more pressure now on donald trump with these new numbers because they lose the heart of their forest in new york thank you jose it's. general motors is to close the first of five car plants today as part of a company wide restructuring the last chevrolet cruze is expected to roll off the product
and china what would that do to the deficit potentially. i disappointed stephen according to what we know so far be genies focusing most of the attention in promises to increase the buy in of more u.s. goods and services which reduce the trade gap if they materialize it but these increases will not be immediate and probably will to be gradual over the years which also generate a lot of other questions also some critics say that the negotiations are focusing too much on reducing the trade gap...
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Jan 29, 2011
01/11
by
CSPAN2
tv
eye 95
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deficit. we should not - on our obligation to care for the poor and vulnerable persons in our society. we shouldn't forsake our responsibility to care for disabled citizens, and we shouldn't neglect on the investment in the public health infrastructure which we all benefit from and if necessary to ensure our communities are healthy. they are established if roosevelt's moodie wind johnson's great society and demonstrate compassion that makes our nation great and separates us as separating the sheep from goats because we care for these. at the time when a nation is recovering from the deepest recession of our lifetime, it is unwise to cut spending and raise taxes. however, if we must cut spending, the last thing that we should cut is the nation's safety net at the time when the four americans rely upon the safety net for their very survival. to be clear, we must protect medicaid and chip. medicaid is only 7% of the budget and provides health care from 19% of the population and almost half of the
deficit. we should not - on our obligation to care for the poor and vulnerable persons in our society. we shouldn't forsake our responsibility to care for disabled citizens, and we shouldn't neglect on the investment in the public health infrastructure which we all benefit from and if necessary to ensure our communities are healthy. they are established if roosevelt's moodie wind johnson's great society and demonstrate compassion that makes our nation great and separates us as separating the...
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Jul 30, 2013
07/13
by
CSPAN2
tv
eye 79
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we had a lot of deficit reduction. i guess the question i'll start with bob on the end is i think there are at love people say boy, it would be a big deal if people like the two of you people have your view on things came out and said right now the problem isn't the deficit. the bigger problem is the state of the economy and the is deficit is second. why not make that argument from your perspective? and push the deficit to second degree? >> well, i think we keep make the case on the grand bargain side that the short term deficit is not the problem. and that what we need to do from a grand bargain point of view is attack the structure deficit, which is the long-term mismatch between spending program and revenues. and you need to put those things on the table. so i would agree that in the short term the deficit is coming down it's looking better. i don't see it as a reason to postpone trying to address that structure deficit, which i've always viewed as a real problem. i don't think the problem has been solved. the numbe
we had a lot of deficit reduction. i guess the question i'll start with bob on the end is i think there are at love people say boy, it would be a big deal if people like the two of you people have your view on things came out and said right now the problem isn't the deficit. the bigger problem is the state of the economy and the is deficit is second. why not make that argument from your perspective? and push the deficit to second degree? >> well, i think we keep make the case on the grand...
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rules by raising italy's deficit targets to boost spending italy has been gradually bringing its deficit under control the country was hit hard in the global financial crisis which began in two thousand and eight within a year its deficit ballooned to five point two percent of g.d.p. but by twenty fifteen it was below the euro zone's three percent benchmark last year the deficit was down to two point three percent of g.d.p. . the central bank fears a fresh spike in the deficit would send italy's debt spiraling out of control italy has the second highest public debt in the eurozone after greece and among the highest in the world and analysts believe that italy's debt figures are underestimated because they don't adequately factor in the cost of supporting the country's ailing banks. so what does still facially financial system and ultimately for the euro zone let's ask see from the brussels based economic think tank bruegel good to have you with us oh of course it's always great to have politicians try to fulfill the compay misses but can italy afford an expensive welfare program i think
rules by raising italy's deficit targets to boost spending italy has been gradually bringing its deficit under control the country was hit hard in the global financial crisis which began in two thousand and eight within a year its deficit ballooned to five point two percent of g.d.p. but by twenty fifteen it was below the euro zone's three percent benchmark last year the deficit was down to two point three percent of g.d.p. . the central bank fears a fresh spike in the deficit would send...
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Feb 17, 2011
02/11
by
CSPAN2
tv
eye 154
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in order to match the deficits. is that a correct statement or? >> absolutely. and again i think it's important to recognize that tax cuts are not free. they don't pay for themselves. we have to go borrow money to finance them. and i know we are having a big debate about what the appropriate role of government is. the government is a divided country on that. there's no argument that the role of government is to go out and borrow $1 trillion to finance tax cuts for the top 2% of americans. i think there's no -- it's not good for growth, it's not necessary for growth. it's deeply irresponsible, and it will deeply magnify the challenge of fiscal sustainability. if you don't made the modest reforms in tax provisions, very limited reforms, you are going to have to find $1 trillion in benefit cuts or spending cuts. that's going to be a hard thing to do. >> thank you. also the president made it clear that we need to invest in education. today you mention three critical areas for investment, early childhood, teacher prepara
in order to match the deficits. is that a correct statement or? >> absolutely. and again i think it's important to recognize that tax cuts are not free. they don't pay for themselves. we have to go borrow money to finance them. and i know we are having a big debate about what the appropriate role of government is. the government is a divided country on that. there's no argument that the role of government is to go out and borrow $1 trillion to finance tax cuts for the top 2% of americans....
WHUT (Howard University Television)
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Mar 24, 2010
03/10
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WHUT
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eye 173
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both of them agree that there are big cuts needed to bring the deficit down. of course, neither party is willing to say what kind of cuts those will be because they're worried about scaring off the voters altogether. >> thank you very much. this is "gmt." coming up, revered like a saint, the archbishop that stood up to violence and paid the ultimate price. there has been sharp criticism at the immigration removal center in eastern england. 420 children were held there between may and october of last year. one baby was there for 100 days. in the reports. >> the immigration removal center for women and families holds around 300 immigrants. it has a troubled history. in 2002, disturbances in a fire destroyed much of the building. and there have been allegations of abuse. today's report except that conditions have improved, expressing worries and concerns about young detainee's. over the last six months as many as 420 children were detained, even though half of them were later released back into the community. 68 children were held for more than one month. >> you
both of them agree that there are big cuts needed to bring the deficit down. of course, neither party is willing to say what kind of cuts those will be because they're worried about scaring off the voters altogether. >> thank you very much. this is "gmt." coming up, revered like a saint, the archbishop that stood up to violence and paid the ultimate price. there has been sharp criticism at the immigration removal center in eastern england. 420 children were held there between...
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Feb 15, 2012
02/12
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CSPAN2
tv
eye 106
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this year's deficit will be the fourth consecutive deficit in excess of $1 trillion. meanwhile, medicare and social security for which the president proposes no reforms will comet on the path of insolvency, and if this was not bad enough, no serious solution to the serious problem, the white house dlitly misrepresented the budget to the american people. the intent seems to be to lull them into complacency and claims his budget achieves $4 trillion in deficit reduction over ten years. i guess we should all relax. .. avoiding short-term cuts in favor of long-term savings so that is the mantra and the chairman mentioned it but there are no spending cuts, short or long in this budget. now the chief of staff me another false claim this weekend saying that the democratic senate is not doing a budget for the third straight year because it requires 60 senate votes. the law is clearly only takes 61 votes to pass the budget and if the republicans get the honor by the american people to leave this chamber next year we will pass a budget and will be an honest budget and will chan
this year's deficit will be the fourth consecutive deficit in excess of $1 trillion. meanwhile, medicare and social security for which the president proposes no reforms will comet on the path of insolvency, and if this was not bad enough, no serious solution to the serious problem, the white house dlitly misrepresented the budget to the american people. the intent seems to be to lull them into complacency and claims his budget achieves $4 trillion in deficit reduction over ten years. i guess we...
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112
Oct 1, 2013
10/13
by
ALJAZAM
tv
eye 112
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although i should add that this shutdown is not about spending or deficits or budgets, our deficits are falling the fastest in 50 years. we've cut them in half since i took office. the demands that republicans are making would raise our deficits. so this shutdown is not about deficits, it's not about budgets, this shutdown is rolling back our efforts to provide health insurance to folks who don't have it. it's all about rolling back the affordable care act. this more than anything else seems to be what the learn party stands for these days. i know it's strange that one party would make keeping people uninsured the centerpiece of their agenda. that apparently is what it is. of course what is stranger still is that is shutting down our government doesn't accomplish their stated goal. the affordable care act is a law that passed the house, it spaed the senate. the supreme court ruled it constitutional. it is settled, and it is here to stay. and because of its funding sources it's not impacted by a government shutdown. these americans are here with me today because even though the governmen
although i should add that this shutdown is not about spending or deficits or budgets, our deficits are falling the fastest in 50 years. we've cut them in half since i took office. the demands that republicans are making would raise our deficits. so this shutdown is not about deficits, it's not about budgets, this shutdown is rolling back our efforts to provide health insurance to folks who don't have it. it's all about rolling back the affordable care act. this more than anything else seems to...
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more debt for more growth the italian banks aren't convinced that deficit spending will end well a report says the country's five biggest banks are considering opening a two and three quarter billion euro credit line to the central banks deposit protection fund the credit line would serve to strengthen support for weaken lenders in the event of a banking crisis. of a war in italy and the budget with brussels i'm joined by don milledge chief market strategist and head of macro economics at zurich ensurance good to have you with us so tomorrow the deadline for italy morning presenting a revised budget ends will we see a last minute change of heart in rome. no i really don't think so i think the as you expected pointed out i think they're quite clear they're going to stick or they are they're going to try and say see it on or their election pledges to the population of italy so i don't see any change in the budget and what will be the short term impact should italy stick to its guns we hear of disciplinary steps that you could undertake. yes i mean the got the ability to implement an excessi
more debt for more growth the italian banks aren't convinced that deficit spending will end well a report says the country's five biggest banks are considering opening a two and three quarter billion euro credit line to the central banks deposit protection fund the credit line would serve to strengthen support for weaken lenders in the event of a banking crisis. of a war in italy and the budget with brussels i'm joined by don milledge chief market strategist and head of macro economics at...
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county has pledged that next year's deficit won't exceed two point four percent of g.d.p. but that's triple the previous government's forecast the italian leader said it would fall below two percent by two thousand and twenty one and he charan t. that the national debt to g.d.p. ratio would decline as well he also dismissed any suggestion that italy would leave the european union or the euro zone. read my lips. no chance no way to get it alexy there's no way to get out. many italian support runs tough stance against brussels and hope the increased spending will help kick start the economy. and i think all the election promises were kept so they did just fine even keeping their stance with europe which i think is the fundamental battle. by your home and not your pay i think that europe does not have to tell us what we have to do. because they are prejudiced against us the stopping comparison to other european countries are enough to confidently expect a yes the president. on tuesday the european commission is set to discuss and decide the next steps in the procedure for ass
county has pledged that next year's deficit won't exceed two point four percent of g.d.p. but that's triple the previous government's forecast the italian leader said it would fall below two percent by two thousand and twenty one and he charan t. that the national debt to g.d.p. ratio would decline as well he also dismissed any suggestion that italy would leave the european union or the euro zone. read my lips. no chance no way to get it alexy there's no way to get out. many italian support...
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Jul 29, 2017
07/17
by
BBCNEWS
tv
eye 48
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there are only three ways are plugging a deficit like this. the academics need to pay more into the scheme or the employers, the vice chancellors need to pay more into the scheme, or the benefits of the scheme have to be scaled back. there are no other options than those. in due course, those options will need to be investigated, but the assets are huge of this pension scheme, it is one of the largest in the country. if it is well—managed and the vice chancellors get their act together, which they haven't until now, they should be able to reduce the deficit over time and the impact will be less serious on existing and future members of the scheme. a first—class degree from cambridge is an achievement that anyone, but a refugee who was born blind and came here to escape the war in iraq, it is all the more impressive. alan hennessy received one of the top marks in his ear and he says he refuses to let any of his circumstances keep him in his lane. we have been to meet him. when people ask me about my life. certainly people in cambridge, they
there are only three ways are plugging a deficit like this. the academics need to pay more into the scheme or the employers, the vice chancellors need to pay more into the scheme, or the benefits of the scheme have to be scaled back. there are no other options than those. in due course, those options will need to be investigated, but the assets are huge of this pension scheme, it is one of the largest in the country. if it is well—managed and the vice chancellors get their act together, which...
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current account deficit trade deficit for thirty forty years and he's no longer willing to accept it she does something other administrations were complaining about but his acting was the first president was acting the others were just complaining he's acting but if you look for example in e.u. u.s. trade there is certainly a us deficit if you look at the goods but if you include services it's actually a subclass of yet trump seems completely oblivious to that fact. i think it's not about europe that much he's not complaining about france he's talking about germany it's all about germany because germany really has a huge trade and including services surplus with the united states so but he cannot deal with germany because germany doesn't have its own trade regime that's all done in brussels so he really isn't trouble to get the right for it so say can you decipher a strategy behind all of that and if so what is that maxim disruption of world trade. you know it's not knowledge here you misunderstand it. a person who says deficits and surpluses should not belong to a share and free tra
current account deficit trade deficit for thirty forty years and he's no longer willing to accept it she does something other administrations were complaining about but his acting was the first president was acting the others were just complaining he's acting but if you look for example in e.u. u.s. trade there is certainly a us deficit if you look at the goods but if you include services it's actually a subclass of yet trump seems completely oblivious to that fact. i think it's not about...
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posted record trade deficits with china mexico and the e.u. . and let's go now to our financial correspondent in new york who is a the we still haro jose this will obviously be taken as bad news by a president like donald trump was made eliminating the deficit such a major part of his campaign and his administration so what happened here. are several things a good explained visa stephen first even the usa has imposed nearly twelve percent of its total imports of the american consumer has demanded more goods and services at a time that wages are rising and unemployment is low let's not forget either the tax cuts approved by the republicans in late two thousand and seventeen which increase consumer spending last year all these at a time when the u.s. economy grew up over potential which also translated into a stronger dollar which made foreign goods cheaper to buy meanwhile a stronger u.s. currency made u.s. goods more expensive while weaker growth in the europe or japan for example reduced the opportunity for made in america products also going b
posted record trade deficits with china mexico and the e.u. . and let's go now to our financial correspondent in new york who is a the we still haro jose this will obviously be taken as bad news by a president like donald trump was made eliminating the deficit such a major part of his campaign and his administration so what happened here. are several things a good explained visa stephen first even the usa has imposed nearly twelve percent of its total imports of the american consumer has...
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Apr 14, 2011
04/11
by
CSPAN
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eye 140
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this is the deficit. this is the deficit. ok. this is the c.b.o., congressional budget office's estimate of the deficit. $1.399 trillion. this is what we're talking about here. this is the continuing resolution savings. that's it. not one penny more. let me sort of take an example of an american family to kind of -- we have to take a few sdemrours off of it for most people to understand these figures. let's say the deficit is $139,000. so $139,000. in my business -- i was a small businessman before i came to congress. i understand how to balance a budget. i know most american families are trying to balance their paycheck, make their mortgage payment. $139,000 you lose in a year. ok. that's tough. you have to take out a second mortgage, max out your credit cards. you try to cover that $139,000. ok. then you know you got to make some serious changes. what are you going to do? you talk to your credit card companies. you shut down your business. what do you do? you figure out how to lose $137,000 the next year. you know what? that $1
this is the deficit. this is the deficit. ok. this is the c.b.o., congressional budget office's estimate of the deficit. $1.399 trillion. this is what we're talking about here. this is the continuing resolution savings. that's it. not one penny more. let me sort of take an example of an american family to kind of -- we have to take a few sdemrours off of it for most people to understand these figures. let's say the deficit is $139,000. so $139,000. in my business -- i was a small businessman...
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Feb 1, 2010
02/10
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MSNBC
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it added to the deficit as well. one year later, because of the steps we've taken, we're in a very different place. but we can't simply move beyond this crisis. we have to address the irresponsibility that led to it. and that includes the failure to rein in spending as well as reliance on borrowing. from wall street to washington to main street to fuel our growth. that's what we have to change. we have to do what families across america are doing, save where we can so that we can afford what we need. now i think it's very important to understand we won't be able to bring down this deficit overnight given that the recovery is still taking hold and families across the country still need help. we will continue, for example, to do what it takes to create jobs. that's reflected in my budget. it's essential. the budget includes new tax cuts for people who invest in small businesses, tax credits for small businesses that hire new workers, investments that will create jobs repairing roads and bridges, and tax breaks for retr
it added to the deficit as well. one year later, because of the steps we've taken, we're in a very different place. but we can't simply move beyond this crisis. we have to address the irresponsibility that led to it. and that includes the failure to rein in spending as well as reliance on borrowing. from wall street to washington to main street to fuel our growth. that's what we have to change. we have to do what families across america are doing, save where we can so that we can afford what we...
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about the highest deficit we had a long long time. but when you talk about deficits and debt the real issue is what are you spending that money on not we've got a big debt so we can't spend money they are spending money but isn't it in this case that perhaps to reduce some of this either income inequality and the. the impact it's having on people's livelihoods isn't it about priorities and where they spend money in the u k. it definitely is so if we look at the u.k. they have a big productivity slowdown and they have the lowest investment rates in advanced economies so worrying about the deficit seems sort of silly rather than worrying about investment that will increase productivity and wages and living standards for everyone when you talk about investments are you talking about primarily education or you're also talking about infrastructure for the less fortunate among citizens it's all of them it's investing in infrastructure and people in health care and everything that would help and help people be more productive the economy be
about the highest deficit we had a long long time. but when you talk about deficits and debt the real issue is what are you spending that money on not we've got a big debt so we can't spend money they are spending money but isn't it in this case that perhaps to reduce some of this either income inequality and the. the impact it's having on people's livelihoods isn't it about priorities and where they spend money in the u k. it definitely is so if we look at the u.k. they have a big productivity...
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trade deficit with china. both the united states and china will have a more prosperous future if we can achieve a level economic playing field right now unfortunately it is a very one sided and unfair one not much has changed since the speech and november some economists say that's because u.s. president trumps argument is flawed they argue countries like china are not to blame for the trade deficit but rather u.s. consumers americans consume more than they themselves produce the latest u.s. trade stats may be a case in point even with a weaker dollar and on the back of higher exports americans still appear to be spending more on foreign goods. we're covering this story for us is our man on wall street yen cotton now yes chung has spoken in the past about punitive measures in light of this growing trade imbalance is he likely to see now follow through. the u.s. president has forced his population to buy fewer foreign goods but the administration has already taken some measures we've seen huge tariffs on lumber
trade deficit with china. both the united states and china will have a more prosperous future if we can achieve a level economic playing field right now unfortunately it is a very one sided and unfair one not much has changed since the speech and november some economists say that's because u.s. president trumps argument is flawed they argue countries like china are not to blame for the trade deficit but rather u.s. consumers americans consume more than they themselves produce the latest u.s....
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03/14
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so, were the deficits hurting us? not always. had we learned to like deficits? no. but could we live with them? we learned to. for "economics u$a," i'm david schoumacher. annenberg media ♪ for information about this and other annenberg media programs call 1-800-learner and visit us at www.learner.org. hasyou look healthyd, "you and you feel fine, health"? but that may not be the full picture. colorectal cancer is the number two cancer killer. it doesn't always cause symptoms, but it can be prevented. get screened. make sure you are the picture of health.
so, were the deficits hurting us? not always. had we learned to like deficits? no. but could we live with them? we learned to. for "economics u$a," i'm david schoumacher. annenberg media ♪ for information about this and other annenberg media programs call 1-800-learner and visit us at www.learner.org. hasyou look healthyd, "you and you feel fine, health"? but that may not be the full picture. colorectal cancer is the number two cancer killer. it doesn't always cause...
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don't let the government run up these deficits they're running up these definite deficits in order to take care of all these welfare queens and the reason why we don't want these deficits is your grandchildren and your children and all the great grandchildren are going to pay for this and you don't want to leave the your all these debts your grandchildren that's the republican since ronald reagan have said that sort of thing well now that tax payers are receiving thousand dollar bonuses and sometimes just twenty thirty forty fifty dollars more a week or every two weeks and their paycheck here is what the democrat in indiana joe donnelly is saying to that to this reporter at the washington post. that's a great thing that people are getting some benefits the low key donnelly said in an interview at a coffee shop in downtown indianapolis last week but the first term senator contended that if voters understood the full implications of the legislation they might be inclined to turn down those one thousand dollars bonuses or retirement account contributions from midwestern businesses such a
don't let the government run up these deficits they're running up these definite deficits in order to take care of all these welfare queens and the reason why we don't want these deficits is your grandchildren and your children and all the great grandchildren are going to pay for this and you don't want to leave the your all these debts your grandchildren that's the republican since ronald reagan have said that sort of thing well now that tax payers are receiving thousand dollar bonuses and...
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one that would be in line with euro zone rules brussels rejected brings an initial plan which will deficit spending two point four percent of g.d.p. italy has the second highest debt to g.d.p. ratio in the eurozone and now the ball is in the e.u. school and it looks like a nasty battle has just begun. after italy's populist government stated on tuesday that it is sticking with its controversial two point four percent budget deficit plans in response to any demands for changes analysts are predicting tough reactions on the side of the e.u. . i think we are approaching sanctions from the european union because i think that the telling government unfortunately has chosen a conflicting course with the european union so i expect a very tough reaction because europe has accepted this challenge and in a way it is relaunching it franco says the current italian budget crisis would have a negative effect on italian savings and is mostly due to an internal political battle between the two majority parties the league and the five star movement. financial markets in italy fell by over one percent at th
one that would be in line with euro zone rules brussels rejected brings an initial plan which will deficit spending two point four percent of g.d.p. italy has the second highest debt to g.d.p. ratio in the eurozone and now the ball is in the e.u. school and it looks like a nasty battle has just begun. after italy's populist government stated on tuesday that it is sticking with its controversial two point four percent budget deficit plans in response to any demands for changes analysts are...
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budget deficit. to rise to more than three percent of g.d.p. as a result of president obama promised to boost wages for low income workers he made the pledge following weeks of protests the demonstrations were originally spock over a planned fuel tax hike the response must cost crap the toxin increase the minimum wage by one hundred euros a month total cost of those concessions could be up to fifteen billion euros fuelling concerns of unsustainable government debt. meanwhile italy's government has agreed on the bases of the new budget and avoiding disciplinary action from the european union countries original spending plans were found to be in breach of e.u. fiscal rules italy's leaders want to increase welfare payments cut taxes and reduce the retirement age but uses those plans will raise the country's deficit beyond acceptable levels the details of the revised budget are not yet known so let's bring bring in. our financial correspondent from frankfurt only three percent g.d.p. deficit limit is part of the used to bill it's impact what does i
budget deficit. to rise to more than three percent of g.d.p. as a result of president obama promised to boost wages for low income workers he made the pledge following weeks of protests the demonstrations were originally spock over a planned fuel tax hike the response must cost crap the toxin increase the minimum wage by one hundred euros a month total cost of those concessions could be up to fifteen billion euros fuelling concerns of unsustainable government debt. meanwhile italy's government...
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and this marks an increase of about sixty percent from a year earlier the deficit to widen from around sixty billion dollars in the same month last year the part of the department said in this statement our job or marks the start of the u.s. fiscal years so we also get to look back to last year and interims first full fiscal year that ended in september the budget gap grew to seven hundred seventy nine billion dollars right i mean thirty sixty percent each steep is this sparking concern. yes because on a basic level the u.s. government is spending way more money than a brings in this is not a new problem but what is new about it is that this number is exploding in times of economic well being and growth many are saying it would be a good time to actually start scraping off some debt and on top of that this debt is getting more expensive as interest rates have been rising charmes tax cuts especially the ones we're called rationing are expected to cut government revenue by one point three trillion dollars over the next decade that is what the congressional budget office calculated financ
and this marks an increase of about sixty percent from a year earlier the deficit to widen from around sixty billion dollars in the same month last year the part of the department said in this statement our job or marks the start of the u.s. fiscal years so we also get to look back to last year and interims first full fiscal year that ended in september the budget gap grew to seven hundred seventy nine billion dollars right i mean thirty sixty percent each steep is this sparking concern. yes...
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was actually coming down he said quote the deficit which is one of the other criticism is coming down and it's coming down rapidly the only problem is it's not coming down the deficit for the fiscal year twenty sixteen two years ago was five hundred eighty seven billion dollars for last year twenty seventeen it was six hundred sixty five billion that went up guys even if you were talking about this year the current fiscal year twenty eight team which ends in september the congressional budget office cvo says the deficit is already five hundred thirty billion dollars through may which is up more than ninety seven billion for the same time last year but wait there's more c b o also says the trillion dollar tax the trillion dollar plus tax cuts that were passed last december will be even more to the federal deficit will add to it including any growth from tax cuts to the hot and tasty tune of wait for it. one trillion dollars per year that's per year an additional one trillion dollars by two thousand and twenty just and two short years i mean tax cuts can certainly help reduce the defici
was actually coming down he said quote the deficit which is one of the other criticism is coming down and it's coming down rapidly the only problem is it's not coming down the deficit for the fiscal year twenty sixteen two years ago was five hundred eighty seven billion dollars for last year twenty seventeen it was six hundred sixty five billion that went up guys even if you were talking about this year the current fiscal year twenty eight team which ends in september the congressional budget...
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Jul 22, 2010
07/10
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CSPAN
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that 4% is the structural deficit. that is too high to keep the debt-to-gdp ratio constant over time. in particular, just to give a specific example, the deficit commission, i believe, has been tasked to bring the deficit down to 3% or 3.5%, something in that range, by 2015. i think we ought to be shooting for a sustainable path, 3%, maybe even less of gdp as a deficit starting three years from now and going out for the next decade. that would be one broad trajectory that would be, i think, reassuring to the financial markets. >> is 3% to 3.5% gdp sustainable? >> it depends on lots of different things. you don't have to have a zero deficit for sustainability. you just need the deficit to be roughly equal to the interest payments that you make. so if interest payments are 2% to 3% of gdp, say, then a permanent deficit of that amount is, in fact, sustainable, yes. >> the g-20 met recently and they set up a time frame for deficit reduction. do you think that that time frame is appropriate? >> it's a medium-term -- 2015 i
that 4% is the structural deficit. that is too high to keep the debt-to-gdp ratio constant over time. in particular, just to give a specific example, the deficit commission, i believe, has been tasked to bring the deficit down to 3% or 3.5%, something in that range, by 2015. i think we ought to be shooting for a sustainable path, 3%, maybe even less of gdp as a deficit starting three years from now and going out for the next decade. that would be one broad trajectory that would be, i think,...
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trade deficit with the e.u.
trade deficit with the e.u.
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08/09
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he lost control of the deficit. he has us control the healthcare debate, and the story, right now, is there going to lose this one. >> you think the president wants responsibility for this? every time he is asked about it he says he know this is eric holder's decision. >> we noted at the people who wrote the memos that said this is okay. this'll be like private and england. we're going to get the people at the bottom who thought they were doing the right thing to mac jane is exactly right. as a great president who is man enough to take response but for things, eric truman said the book starts he -- buck stops here. >> the national security applications. the media is ignoring what this means from a national security perspective to mecca have been ignoring it but they don't point out often enough that a special prosecutor is in charge of this, which means that really neither the president nor even eric holder are going to be really responsible for the outcome because it is the special prosecutor's decision on whether
he lost control of the deficit. he has us control the healthcare debate, and the story, right now, is there going to lose this one. >> you think the president wants responsibility for this? every time he is asked about it he says he know this is eric holder's decision. >> we noted at the people who wrote the memos that said this is okay. this'll be like private and england. we're going to get the people at the bottom who thought they were doing the right thing to mac jane is exactly...
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Feb 4, 2010
02/10
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deficits are too high. they are unsustainable, and the american people and investors around the world need to have the confidence that we are going to work together to bring them down when the economy is stronger. now, the president's budget proposes important steps towards that objective. starting in fiscal year 2011, we propose to tax non discretionary -- suddenly, there are some important changes for a tax system to make it more fair and to bring down those long term deposits, so we are proposing to allow the tax cuts put in place for the richest americans to expire, to close what is called a carried interest in the poll, so we are taxing the interest of hedge fund and private equity managers in the same way we tax the incomes of teachers and firemen, and we went to eliminate unnecessary and unfair tax subsidies. -- and we want to eliminate those. we went to extend a tax credit for 95% of working families -- we want to extend a tax credit. we are looking at closing down the tarp. if you join with the pre
deficits are too high. they are unsustainable, and the american people and investors around the world need to have the confidence that we are going to work together to bring them down when the economy is stronger. now, the president's budget proposes important steps towards that objective. starting in fiscal year 2011, we propose to tax non discretionary -- suddenly, there are some important changes for a tax system to make it more fair and to bring down those long term deposits, so we are...
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they've now revised they will be running a two point zero four percent deficit for twenty nineteen it does mean some of the marquee policies that just because it wanted to push through in the new year going to be hits to the chewed of a few billion euros seeing things like the universal basic income for the good employed also plans to lower the retirement age are also coming in on the chopping block certainly not the plans themselves but the financing for those plans for twenty nine arguments for this being going on for a while though. police decided to step down to back down i beg your pardon to avoid sanctions from brussels but there was some real heated arguments in the lead up to this decision for the first time as a commission is obliged to request a country that it was its draft a budget to reply this is the first time in budget the e.u. doesn't like no surprise this is the first italian budget written in rhyme and not in brussels the economy at. the time in economy is healthy and this is an economic move that will give italy distributing needs we want change one comma in this d
they've now revised they will be running a two point zero four percent deficit for twenty nineteen it does mean some of the marquee policies that just because it wanted to push through in the new year going to be hits to the chewed of a few billion euros seeing things like the universal basic income for the good employed also plans to lower the retirement age are also coming in on the chopping block certainly not the plans themselves but the financing for those plans for twenty nine arguments...
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now and two hundred billion dollars so far an increase in defense spending so the deficits are as far as the eye can see a trillion dollars and the fed has to raise interest rates to pay for those deficits to attract the capital and somehow to pay for the deficits so trump in complaining of pollen interest rates he's really pointing the finger not in self he's the one who's caused these deficits and they're going to be much bigger because my prediction is by late next year we're going to be in a recession in the u.s. now is on a sunday that you know the u.s. is already in a big financial hole in terms of national debt when time came to power he supposed to be a business and then there's this man who would understand these things easy making things worse if you think of the stans what's going on. well of course he's making things worse you know he geek complains using golf metaphors but he's been shooting double bogeys here all year long and the fiscal policy is there finally making things worse because it's not really resulting in bank lending or real investment that creates jobs most
now and two hundred billion dollars so far an increase in defense spending so the deficits are as far as the eye can see a trillion dollars and the fed has to raise interest rates to pay for those deficits to attract the capital and somehow to pay for the deficits so trump in complaining of pollen interest rates he's really pointing the finger not in self he's the one who's caused these deficits and they're going to be much bigger because my prediction is by late next year we're going to be in...
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and this reflects on such a high trade deficit. because as i said earlier, the tokyo is always importing more than it exports. and weak mirror is not happening at all. okay, and these figures appeared to show as well that russian turkish economic ties have strength. and despite the war that's going on in ukraine, why is that? this is extra precisely because of the war that's going on in ukraine. as you know, turkey has never taken part in the sanction regime, which is imposed by european union and united states on russia. so we see, especially in the december and last month, the trade william between russia and turkey as increased significantly, turkeys, exports to russia, increase 122 percent and import imports from russia also increase 56 percent. and this is primarily due to turkey's some sort of on bias roll and intermediary position between the west and russia. so since russia is sanctions almost everywhere in the west, it turns to turkey for purchases and $0.04. ok. and of course, big elections coming up. this year, and we do
and this reflects on such a high trade deficit. because as i said earlier, the tokyo is always importing more than it exports. and weak mirror is not happening at all. okay, and these figures appeared to show as well that russian turkish economic ties have strength. and despite the war that's going on in ukraine, why is that? this is extra precisely because of the war that's going on in ukraine. as you know, turkey has never taken part in the sanction regime, which is imposed by european union...
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deficit limits is part of the e.u. stability and growth pact what does it mean when a heavyweight micron's breaks that rule. well it means that it's setting a bad example for others and already the telly and government has noted as much that now france would be and not to corner as well and of course it makes it all the more difficult for the e.u. commission or the other finance ministers and heads of governments and states to reel in italy and france and their big heavyweights and they both of course have their issues why they're doing this in france everybody knows you already said it it's the political situation in the country the village on the yellow vests basically hindering mccraw in performing the reforms that many in the markets but also other many economists and politicians believe would be vital to improve france's competitiveness the problem with criticism of this kind of policy is whoever is doing it is doing it from a difficult position even germany germany was among the first to break the maastricht rule
deficit limits is part of the e.u. stability and growth pact what does it mean when a heavyweight micron's breaks that rule. well it means that it's setting a bad example for others and already the telly and government has noted as much that now france would be and not to corner as well and of course it makes it all the more difficult for the e.u. commission or the other finance ministers and heads of governments and states to reel in italy and france and their big heavyweights and they both of...
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even if the trade deficit it keeps growing. probably not that the same rate as we've seen in that months. okay, and since go to new york or is that, you know, in the united states big coin mining farms are multiplying the countries now emerging as a global leader in the industry. but those who live near these farms say the noise from the fans used to cool down the crypto generators is proving a problem. the soothing roar of the niagara falls. it's a sound synonymous with nature and the outdoors. it's being disrupted by another roar of a bit coin farm, nearby residence of this small town on the border of new york and canada. say it's a nuisance. one that's disrupting their way of life. i get 4 hours of sleep me because of that noise is kind of like during the day, you know, when i'm outsider working it doesn't bother me because i'm doing something else. but at night it's a cheap hydro electric power from the falls makes it an attractive place for companies looking to mine crypto currency. it's also what attracted big industry de
even if the trade deficit it keeps growing. probably not that the same rate as we've seen in that months. okay, and since go to new york or is that, you know, in the united states big coin mining farms are multiplying the countries now emerging as a global leader in the industry. but those who live near these farms say the noise from the fans used to cool down the crypto generators is proving a problem. the soothing roar of the niagara falls. it's a sound synonymous with nature and the...
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head the european commission rejected the plan last month saying it flouted a commitment to noah the deficit and did not guarantee a reduction in the country's debt which by the way is the second highest in the eurozone as a proportion of g.d.p. the commission gave roman till tuesday that's tomorrow to present a new budget if there's no agreement to brussels could start a disciplinary steps against rome later this month. the italian government is not backing down over its budget despite e.u. commission warnings to dress tickly reduce its budget deficit target after talks with euro group president mario centurion or italy's finance minister said it would be political suicide to cede to the e.u.'s demands regular to be careful and i mean . we are going to reiterate our budget fundamental characteristics and russia now georgia and we will continue to discuss ways of bringing our position in line with the european commission he now knows to proceed surely we'll also take the
head the european commission rejected the plan last month saying it flouted a commitment to noah the deficit and did not guarantee a reduction in the country's debt which by the way is the second highest in the eurozone as a proportion of g.d.p. the commission gave roman till tuesday that's tomorrow to present a new budget if there's no agreement to brussels could start a disciplinary steps against rome later this month. the italian government is not backing down over its budget despite e.u....